Payment of Vendors

Payments

Open an existing company from Peachtree Accounting software and select tasks from the toolbar option, and select the sub-option "Payments".

 A window will appear with the name "Payments"

     Select the "Vendor ID" to whom you want to make payments and add the due date and amount of payment. 

                   

    Amount will be displayed on the window as follows.

   The payment will display with the discounted amount, so now click the "Pay" option.

   When we don't enter the discount option, then the amount will be without a discount.

 But we have to make a discount account as follows.

  In case of not availing the discount by the vendor, then the discount account has to be selected, but in case of availing, there is no need to select it.

Maintaining Purchase Order

Maintaining Purchase Order:

·        Open a Peachtree account and open the existing company whose Purchase Order we are maintaining.

Go to the Maintain option and enter the vendor ID and Purchase Defaults, and then explain that we use the Inventory account for purchase.

·  Then we will maintain the inventory item. And we will enter the inventory account and information.

·        Now go to “Tasks” on the toolbar and click on “Purchase Orders …”

·        Now, here we will select the vendor from whom we are purchasing the product.

1.      Here, it is necessary to enter the “P.O. No.:” otherwise, we cannot open or search it again in the records.

2.      We will enter Quantity, Item, Unit Price, and the software will automatically calculate the Amount we have to receive.

Now click on the “Save” option on the toolbar, and the Purchase order detail will be saved.

·        Now we will go to the Maintain option and select the option “Purchases/Receive Inventory …”

·        Now, here we will select the vendor and select the P.O. No., which was given by the Vendor. Here we will enter the number of received items and the price per unit, and the total amount will be automatically calculated.

·        If you want to check the entry of this purchase, go to the “Journal” option in the toolbar of the “Purchases/Receive Inventory” window.

·        A window will appear showing the entries of this Purchase Order.